Japanese stocks fell at the Tokyo Stock Exchange at the end of today’s trading session, with the yen rising to its highest levels since Aug. 5, amid escalating tensions in the Middle East, and increasing chances of a US interest rate cut in September after statements by Chairman of the Federal Reserve (the US central bank) Jerome Powell.
The yen and stocks usually move in opposite directions, because a stronger domestic currency hurts the competitiveness of exporters and makes stocks more expensive for foreigners.
The Tokyo Stock Exchange reported that Japan’s Nikkei 225 index ended the session down 0.66 percent, or 254.05 points, to 38,110.22, while the broader Topix index fell 0.87 percent, or 23.31 points, to close at 2,661.41.
The US currency had fallen more than 0.4 percent against the Japanese currency at 143.79 yen.
Source: Qatar News Agency